BNB falls -20% the last week
Price is being held by major support of $257
250 MA has continued to hold price down
Binance coin has followed the majority of the crypto market to a tee the last couple months. As Bitcoin broke its major support zone of $30,000, BNB has tumbled nearly $70 to its June candle low. BNB has much utility within the Binance platform but unfortunately it has fallen victim to the general market trends. Considering the explosive run BNB had experienced throughout the last year, this type of correction is very much needed to continue growth.
The price of BNB had turned short term bearish in the beginning of July & since then it has experienced a near -25% fall. At the time of writing, BNB sits on its major resistance zone of $248-$257. If bulls fail to hold this zone, BNB will likely fall hard. The next supports for BNB land at $240, $228 & $215. Along with the $228 support lies its long term trend which will likely provide a strong bounce if price reach
Źródło: https://coingape.com/bnb-binance-coin-tumble-to-major-support-zone/
